ECO220Y1 Midterm: ECO220Y1Y UTSG Term Test 220 3 JAN18 Solution

• School: UTSG
• Department: Economics
• Course: ECO220Y1
• Professor: All

Document Summary

6,858,075=0. 36123; binomial probability: (cid:1842)((cid:1876))= (cid:3041)! (cid:3051)!((cid:3041)(cid:2879)(cid:3051))! (cid:1868)(cid:3051)(1 (cid:1868))(cid:3041)(cid:2879)(cid:3051) for (cid:1876)=0,1,2, ,(cid:1866) (cid:2872)! ((cid:2873)(cid:2879)(cid:2872))!0. 36123(cid:2872)(1 0. 36123)(cid:2873)(cid:2879)(cid:2872)=0. 05438 (cid:2873)! ((cid:2873)(cid:2879)(cid:2873))!0. 36123(cid:2873)(1 0. 36123)(cid:2873)(cid:2879)(cid:2873)=0. 00615 (1) (a) (cid:1866)=5; (cid:1868)=2,477,340 (cid:1842)(4)= (cid:2873)! (cid:1842)(5)= (cid:2873)! (cid:1842)((cid:1850)>3)=0. 05438+0. 00615=0. 0605 (b) (cid:1866)=1,800; (cid:1868)=0. 474; x is a binomial random variable. We can use the normal approximation because we expect at least 10 successes and at least 10 failures. (cid:1831)(cid:4670)(cid:1850)(cid:4671)=(cid:1866)(cid:1868)=1,800 0. 474=853. 2, (cid:1848)(cid:4670)(cid:1850)(cid:4671)=1,800 0. 474(1 0. 474)= Define (cid:1850)(cid:3009) as the number living with parents in the. Hamilton sample: (cid:1850)(cid:3009)~(cid:1828)((cid:1868)=0. 445,(cid:1866)=400) that can be approximated as normal (cid:1850)(cid:3009)~(cid:1840)((cid:2020)=178,(cid:2026)(cid:2870)=98. 79). (cid:1842)((cid:1850)(cid:3023) (cid:1850)(cid:3009)>0)=? where ((cid:1850)(cid:3023) (cid:1850)(cid:3009))~(cid:1840)((cid:2020)= 23. 6,(cid:2026)(cid:2870)=193. 5916), which is obtained by using the laws of (cid:1842)((cid:1850)(cid:3023) (cid:1850)(cid:3009)>0)=(cid:1842)(cid:4672)(cid:1852)> (cid:2868)(cid:2879)(cid:2879)(cid:2870)(cid:2871). (cid:2874) (cid:2869)(cid:2877)(cid:2871). (cid:2873)(cid:2877)(cid:2869)(cid:2874)(cid:4673)=(cid:1842)((cid:1852)>1. 70)=0. 5 0. 4554=0. 0446 deviations of the mean. (c) (cid:1831)(cid:4670)(cid:1850)(cid:3364)(cid:4671)=(cid:2020)=75 (cid:1845)(cid:1830)(cid:4670)(cid:1850)(cid:3364)(cid:4671)= (cid:3097) (cid:3041)= (cid:2871)(cid:2868) (cid:2870)(cid:2868)(cid:2868)=2. 12. The shape of the sampling distribution of the sample mean will be normal (bell shaped) according to the central limit. Theorem as a sample size of 200 is surely sufficiently large (even though the population itself is clearly not normal).